Rating (Empty Properties) Act 2007

I am grateful to my hon. Friend for raising his concerns about his constituents and his local companies. As I explained earlier, we have had to strike a difficult balance. We have a big problem with empty properties, but we must do something to stimulate the market, partly to bring down rents and to ensure that the spaces are utilised by would-be entrants to the local marketplace and other companies. I hear what my hon. Friend is saying about his own local businesses. I am keen for him to have the opportunity to sit down with Ministers in the Department to discuss how his local companies have been affected. The overall purpose of the reforms is to increase the costs of holding empty property, thereby providing a stronger supply-side incentive for owners to re-let, redevelop or sell empty properties. That incentive should increase access to existing premises for business, reducing the need for new development on greenfield sites, increasing the supply of commercial properties available to new and existing businesses, and helping to reduce business rents across the board.